Wait until the market dips big again to buy? Risky buy right now?

[Brandon Monaghan]

This will be my first property to buy and I am not sure if I should keep my money in cash until we get a big dip again. The horror stories from 08-09 are holding me back. I am not in any rush at the moment also...

[Chinmay J.]

@Brandon Monaghan - Yes, you should wait. The less competition the better. LOL

So a distressed property comes on market at night. I call up the the listing agent at 11:00 A.M. Its already under contract

OK On a serious note. A question to you. Do you think the banks are lending as recklessly as they were before the collapse. Not even a fraction of that..